Member Info for addicknt

SM, having spent a considerable part of my career working with private equity firms, I'm afraid I don't share your enthusiasm. The good ones are as rare as hens teeth.

In the early days of their existence in this country they tended to be run by entrepreneurial mavericks who were happy to take real risks and understood the need to stand back and let the management teams they'backed get on with it. Sure, if things went wrong they'd get involved, but it took a lot for them to boot the management out.

Over time these people were replaced by tedious accountants/ management consultants, most of whom were barely out of nappies. They were/are, arrogant and ignorant and have very little understanding of the businesses they own. When things go right they love taking the credit, if it goes wrong it's never their fault.

I could write a book about this part of the financial services sector and it wouldn't be favorable.

CE, I'm sure you can understand the scepticism. Over the years we've seen many people come and go who post similar messages. I honestly hope you're right and will be extremely happy to be proved wrong.

Eloro, Nal's rumour originated in Mining Journal and was posted here by TI and it was no more than a single throwaway comment in a long article. People on here had suggested the same thing weeks ago. In fact I can't think of a single scenario which hasn't been aired here. One of them is bound to come true.

Darren, in this instance, I think a very large bucket of salt is required.

I sincerely hope I'm wrong, but experience should teach us that whenever someone appears out of the blue on these boards claiming to have inside info, it's invariably a wind-up. If this chap really is in possession of such information, I'm not sure of the wisdom of broadcasting it on here.

We all know something's on the way and the recent speculation may force the company to reveal something. Let's hope it's of real significance and we see a long-lasting reversal of our fortunes. This board will be a lot happier place once everyone has greater confidence in their holdings.

If any of this stuff is true it begs some pretty serious questions.

So you didn't mean the opening sentence of your post at 13:21?

Anyway, this horse has been flogged for long enough.

Enjoy your Easter.

You said ' as soon as a bid is announced'. This would trigger the various regulations.

Who, me? In what context?

Wrong. The company would be in a defined bid situation and as such there are all sorts of restrictions in place.

I'm not sure the rules allow it because the directors would still be in the position of having inside info.

Because there wouldn't be any shares to buy. I would have thought that was obvious. I suppose if the market didn't mark the shares at offer price there would be an arbitrage position, but I'm pretty sure directors can't do so.

If he's serious about wanting to buy more, it tells us he's not in discussions to sell the company.

Q, I take it you heard the bit where he states he isn't in the process of raising project finance?

There's no doubt it's all about de-risking, but I'd argue production by us is not the focus of attention.

RK, particularly as he's publicly stated this process is ongoing i.e it's not considered price sensitive.

Ice I didn't mean to suggest he wouldn't get the options, merely that they wouldn't be worth much.

Eloro, to be honest it's come as a bit of a shock.

I agree about about that Truffle bloke and why we've retained an adolescent to run our IR is beyond me. Maybe he's at junior school with one of Caldwell's kids?

I'm also of the opinion that it's partly responsible for the current excitement.

Just scroll back. The first post from TheItalian contains the link to the YouTube interview. It's really worth listening to as it contains all sorts of interesting nuggets. In fact, it's the best interview I've ever heard from one of our CEOs. It also contains his very odd comment about 30 cents.

TheItalian posted the link on the 27th at 11:31. The heading is SC Interview.

Q, it was in the recent interview which was posted on here.